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The advantages and disadvantages of the EU and Eurozone membership are increasingly influential in European commerce and politics . The issues are complex and will shape European commerce and politics for years to come. As a financially literate person, you should be familiar with major EU and Eurozone economic issues.
The Big Picture Money is expressed as currency. The values of currencies of different countries are not equal. Many programs and apps enable you to quickly and accurately calculate currency conversions. The strength of a currency reflects the country’s economic health. A strong currency enjoys a favorable exchange rate, which increases the purchasing power of that currency. Weak currency reduces the purchasing power of the currency overseas. The Eurozone refers to the 18 countries of the EU who have adopted the euro as legal tender. The benefits and disadvantages of EU and Eurozone membership continue to be debated and will shape European politics and commerce for many years. SLIDE 5K Recall that the functions of money are to provide 1) a medium of exchange, 2) a standard numerical measurement for comparing the values of dissimilar objects, and 3) a store of value, so people can accumulate wealth. One of those functions of money, in particular, had a huge impact on commerce. Can you guess which? How did it impact the growth of commerce? Write your prediction here and in the next lesson, find out if you are right! Assign • Blog, debate, discuss: The Eurozone operates on a single currency. Should the world follow suit? Should Bitcoin become the world’s first supercurrency? What are the advantages and disadvantages of a single and/ or stateless currency? • To prepare for the next lesson: read Chapter 6 of the student workbook. • Watch business or financial news at least 15 minutes per day. • Each week compare and contrast tweets from students' selected financial journalists. Compare journalists' opinions about events and stories. PRODUCT PREVIEW SLIDE 5L Let’s Practice! Select from these practice activities. Let's Practice: How Much is That in Deskmoola? Let's Practice: Match the Country to the Currency and Currency Symbol Exploring 21st Century Skills and Issues: Side Trip to the Eurozone Ponder and Predict
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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